Roller, Marcus (January 2022). Estimation of direct net effects of events (CRED Research Paper 35). Bern: CRED - Center for Regional Economic Development
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I provide three estimation strategies for the estimation of direct net effects of events
and the respective substitution effects. I apply the strategies to estimate the effect of
fairs on overnight stays in Basel. I show that deseasonalizing by year day fixed effects
is superior to month and week fixed effects and semi-parametric deseasonalizing. I
find that fairs increase the overnight stays in nights during fairs by 17% and by 8%
and 4% in the preceding nights. The net effect of fairs on overnight events is only one
fourth of the gross effect. These results demonstrate that the distinction between net
and gross effects is crucial also for the estimation of direct effects of events. The
study therefore contributes to the literature on the estimation of economic effects of
events which recently has focused on this distinction for indirect effects.
Item Type: |
Working Paper |
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Division/Institute: |
03 Faculty of Business, Economics and Social Sciences > Department of Economics > Institute of Economics > Economic Policy and Regional Economics 03 Faculty of Business, Economics and Social Sciences > Department of Economics > Institute of Economics 11 Centers of Competence > Center for Regional Economic Development (CRED) |
UniBE Contributor: |
Roller, Marcus |
Subjects: |
300 Social sciences, sociology & anthropology > 330 Economics |
Series: |
CRED Research Paper |
Publisher: |
CRED - Center for Regional Economic Development |
Language: |
English |
Submitter: |
Melanie Moser |
Date Deposited: |
07 Feb 2022 10:39 |
Last Modified: |
05 Dec 2022 16:04 |
JEL Classification: |
Z30, Z38 |
BORIS DOI: |
10.48350/164640 |
URI: |
https://boris.unibe.ch/id/eprint/164640 |
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